IT87R2- Policyholders’ Income from Life Insurance Policies.

NO.: IT-87R2 DATE: February 15, 1996 SUBJECT: INCOME TAX ACT Policyholders Income from Life Insurance Policies REFERENCE: Section 12.2 (also subsections 12(3), 20(20), and 148(1), (2), (4), (8), (8.1) and (8.2), and the definitions of “life insurance policy” in subsection 138(12), and “adjusted cost basis” and “disposition” in subsection 148(9); and paragraphs 56(1)(d.1) and (j) of the […]

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